Is there such a thing as price gouging? (how much, compared, money)

[Roadking2003]

Originally Posted by summers73

Yes, with margins much smaller than companies like Budweiser who create a non-essential product.

How do you define "a non-essential product?"

Shouldn't the market make that determination?

[Jaggy001]

Originally Posted by summers73

oil/gas has to be separated first, because gas stations make practically ZERO profit and rely on their overpriced merchandise inside the Quickie-Mart store.

As for gas prices, we don't buy all that much from OPEC, most comes from Canada. The "cartel" has limited influence on the overall price.

What I find interesting is how quickly gas prices increase in line with the price of world oil. And this despite the fact that it takes over two weeks for gas to reach the pumps from the refinery not to mention the time it takes the oil to get from the well to the refinery.

[Frank DeForrest]

Originally Posted by Roadking2003

Yes. I love it when the oil companies have record profits.... it really helps my 401k... and oh by the way, it helps the other 80 million Americans who have a 401k.

Good point.
I wonder how many have oil in their portfolio and ***** about their profits at the same time?

Talk about cutting off your nose to spite your face.

[Casper in Dallas]

Originally Posted by summers73

Yes, with margins much smaller than companies like Budweiser who create a non-essential product.

Many people would disagree about Budweiser being non-essential, especially these days.
Casper

[burdell]

Originally Posted by Jaggy001

What I find interesting is how quickly gas prices increase in line with the price of world oil. And this despite the fact that it takes over two weeks for gas to reach the pumps from the refinery not to mention the time it takes the oil to get from the well to the refinery.

Have no fear, they make up for it in how slooooooooooooooooowly gas prices decrease in line with oil prices

[Jaggy001]

Originally Posted by Frank DeForrest

Good point.
I wonder how many have oil in their portfolio and ***** about their profits at the same time?

Talk about cutting off your nose to spite your face.

I guess we should all be looking forward to $5 gas then

[summers73]

Originally Posted by burdell

Have no fear, they make up for it in how slooooooooooooooooowly gas prices decrease in line with oil prices

When your house drops 50K in value, are you in a hurry to sell it off at a loss?

Similarly, when a gas station paid $3.50/gal for the previous supply and the wholesale price is now $3, do you think they'll be in a rush to sell off their inventory for a immense loss? Remember, gas station make just a few pennies per gallon.

[Frank DeForrest]

Originally Posted by Jaggy001

What I find interesting is how quickly gas prices increase in line with the price of world oil. And this despite the fact that it takes over two weeks for gas to reach the pumps from the refinery not to mention the time it takes the oil to get from the well to the refinery.

The street dictates price.
If my competitor on the corner opposite from me goes up, I can follow him or stay under to try and pick up volume at the expense of margin (and hope to make it up in the store through increased foot traffic)

[burdell]

Originally Posted by Casper in Dallas

Many people would disagree about Budweiser being non-essential, especially these days.
Casper

Gives me a headache, but keep the Yuengling and Chimay flowing

[txgolfer130]

There is such a thing as price-gouging. Right now w/ gas prices...is not it.